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Next Gen Metals Commences Geochemistry Program on the Fate Gold Project, Québec

Next Gen news 092310

 

September 23, 2010, Vancouver, Canada -- Next Gen Metals Inc. (CNSX: N) ("Next Gen" or the "Company") is pleased to announce the initiation of a Mobile Metal Ion (MMI(tm)) Geochemistry study commencing on its Fate Gold/Polymetallic Project, located in Québec, Canada.

Underlying stratigraphy and potential mineralization extends approximately 20 km along the major Chicobi Deformation Fault Zone. This fault zone parallels the prolific Cadillac-Larder and Destor-Porcupine Deformation Zones, which hosts multi million ounce deposits to the south. Modern geophysical and geochemical technologies now enabled us to identify exploration targets which previously were unknown. Next Gen's technical consultants are confident that Fate Gold/Polymetallic Project has excellent exploration potential. The objective of the geochem program is to outline potential drill targets.
 


Next Gen has signed an exploration contract with Geos Sciences Consulting and Services Exploration of Rouyn-Noranda to commence a MMI geochemistry exploration program, which includes sampling and interpretation of the results.

The exploration program will consist of:

  • MMI Geochemical sampling for a total of 2000 samples

  • Sample spacing to be 25m apart

  • Samples to be taken at a depth of 15cm (range is between 10cm and 25cm depths) from the organic-inorganic soil interface and will be dispatched to SGS laboratory in Toronto

  • Compilation of results, statistical processing and preparation of a geochemical map and report



Geos Sciences has more than 10 years of experience in MMI sampling and Services Exploration has more than 30 years of experience in mineral exploration, including soil sampling, geophysical surveys and prospecting.

Mobile Metal Ion (MMI(tm)) Geochemistry is an advanced surface exploration technique for finding mineral deposits and is a cost effective surface exploration tool. This technology measures mobile metal ions in surface soils. These mobile metal ions are released from ore bodies and travel upward toward the surface.

Using sophisticated chemical processes and instrumentation, MMI(tm) is able to measure these ions, in surface soils, to determine accurately where buried mineralization is located.

In addition, regional gravity and magnetic surveys confirm the location of Chicobi Fault and also indicate the presence of several offsets. The Company is planning a surface exploration program on these target areas. Surface geophysics are anticipated once the final report has been processed and interpreted.

About the Fate Project

The Fate Project is located in the Abitibi Greenstone Belt of Northwest Québec, one of the most famous gold and base metals regions in the world. Portions of the area surrounding the Fate project have thicker over burden and Management believes it has hindered past exploration efforts. Recent advances in mining exploration technology are allowing companies like Next Gen to make significant gains in under explored areas of Canada.

Next Gen's newly acquired Fate Gold Project covers approximately eight kilometres of the western extension of this under explored stratigraphy which is host to the Destiny gold resource, where Alto Ventures Ltd. (ATV:TSX.V) and Pacific North West Capital Corp. (PFN:TSX) have an aggressive development program planned. This stratigraphy and potential mineralization extends approximately 20 km along the major Chicobi Deformation Fault Zone. The Chicobi Deformation Fault Zone parallels the prolific Cadillac-Larder (Val d'Or-Malartic [http://www.osisko.com], Bousquet, Kirkland Lake gold camps) and Destor-Porcupine (Timmins, Holloway, Duparquet gold camps) Deformation Zones to the south as well as the Casa Berardi (Aurizon, Joutel gold areas) Deformation Zone to the North.

Approximately 30 km northeast of the Destiny Project, Maudore Minerals (http://www.maudore.com) is working on expanding their Comtois gold resource. (On August 11, 2010, Maudore Minerals Limited announced results from a 43-101 compliant Estimate of Mineral Resources for the Comtois. The revised estimate including drilling data to the middle of February, 2010, has an Inferred Resource, containing 1.2 million ounces gold, incorporating a high grade capping of 65 g/t Au. Note that for comparative purposes, the estimate would be over 1.4 million ounces uncut. The Inferred Mineral Resource includes: (1) near surface (0 to 150 metres depth) open pit potential of 504,384 ounces at a grade of 3.2 g/t Au using a 1 g/t cut-off, and (2) underground potential (below 150 metres) of 708,409 ounces at a grade of 6.8 g/t Au using a 3 g/t Au cut-off. The minimum width used in calculating the resource was two metres).

About Next Gen Metals Inc.

Next Gen Metals Inc. "Next Gen" or the "Company" is a diversified mineral exploration company with a focus on gold, silver and base metals projects in North America. Next Gen is developing the Silver Chalice Property, located in Alaska and the recently acquired Fate Gold Project located in the Abitibi Greenstone Belt of Northwest Québec, one of the most famous gold and base metals regions in the world.

Next Gen is the newest company to join the International Metals Group and is listed on the CNSX under the symbol "N". The new Board of Directors is comprised in part with directors from the International Metals Group (www.internationalmetalsgroup.com) who, along with the new management group, have a combined 150 years or more of experience in all aspects of managing public companies related to the resource industry.


On behalf of the Board of Directors

"Harry Barr"

Harry Barr
President & CEO
Next Gen Metals Inc.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Note: this release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as "continue", "efforts", "expect", "believe", "anticipate", "confident", "intend", "strategy", "plan", "will", "estimate", "project", "goal", "target", "prospects", "optimistic" or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company's ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.

Except as required by law, the Company undertakes no obligation to update any forward-looking statements.

 
 

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